President Rodrigo Duterte has signed into law Republic Act 11534 or the “Corporate Recovery and Tax Incentives for Enterprises (Create) Act,” which seeks to lower corporate income tax and streamline fiscal incentives for impacted industries.
CAPTIVE AUDIENCE In this file photo, Sen. Christopher Lawrence ‘Bong’ Go has President Rodrigo Duterte and two other officials’ attention during a meeting in Malacañang. The President signed the Corporate Recovery and Tax Incentives for Enterprises (Create) into law on March 26, 2021, which aims to reduce corporate income tax in a bid to help the economy recover amid the impact of the Covid-19 pandemic. The President, however, also vetoed some provisions under Republic Act 11534 or the Create Act. MALACAÑANG PHOTO